Cliff Drive Apartments

$3,300,000 Multifamily Loan from Life Insurance Company

City: Santa Barbara, CA
Loan amount: $3,300,000
Lender type: Life Insurance Company
Property type: Multifamily
Size: 32 Units

Transaction description

Seth Ludwick of PSRS arranged the $3.3 million cash-out refinance of a multifamily property in Santa Barbara, CA. The subject property is a garden-style apartment complex comprised of 32 units across four buildings. Financed with one of our life insurance companies, PSRS provided its borrower a non-recourse loan with a 10-year interest-only term and a 1% prepay for the last nine years.

TRANSACTION ADVISORS

Seth Ludwick

Principal
Loan Officer

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